APLD

Applied Digital Corporation operates high-performance computing (HPC) data centers specializing in cloud infrastructure for artificial intelligence and blockchain applications. Headquartered in Dallas, Texas, the company provides GPU-accelerated computing services to customers developing and deploying AI workloads, while also hosting cryptocurrency mining operations. The company operates multiple data center facilities across North America with a combined capacity exceeding 400 megawatts. Applied Digital's business model centers on building and operating energy-efficient HPC infrastructure in locations with access to low-cost power, then leasing computing capacity to enterprise customers and mining digital assets on its own behalf. Its cloud services division offers scalable GPU computing resources through its Elara platform, targeting AI companies requiring significant computational power for machine learning and model training. In recent years, Applied Digital has pivoted its strategic focus toward AI infrastructure, reducing its cryptocurrency mining exposure while expanding its HPC cloud services. The company has invested heavily in acquiring and deploying NVIDIA GPUs to meet growing demand from AI developers. Applied Digital partners with energy providers to secure long-term power purchase agreements, which serve as a foundation for its data center expansion strategy. The company employs approximately 100 people and continues to develop additional facilities to capitalize on the expanding AI compute market.